The government plans to create an additional fund of 100 billion won this year following the creation of a 500 billion won 'mega fund' last year to strengthen investment and export support for the pharmaceutical and bio industries.

However, since a proper drug price valuation must necessarily accompany first-in-class development support, it was suggested that the system should be improved for this purpose. Kim Yong-woo, head of the Korea Health Industry Development Institute, explained the 3rd 5-year comprehensive plan to nurture and support the pharmaceutical and bio industries in a session on 'Government Policy and Industrial Strategy for Creating a New Bio-Health Market' held at the KFDC Spring Confe